Recently, the cost of transferring USDT on Ethereum has become lower than on Tron, which was previously regarded as one of the cheapest blockchain networks for transactions.
Drop in Ethereum Fees
When transferring USDT via Trust Wallet, the fee is only $0.40 on Ethereum, while it reaches $3.72 on Tron. This is due to the average gas price on the Ethereum network dropping to $0.05 per transaction, marking the lowest level in the past five years.
Current Situation on Tron
Despite the drop in Ethereum fees, Tron recently surpassed Ethereum in fee revenue due to increased network activity. Previously, Ethereum was known for its high fees, reaching $198 due to network congestion.
Blockchain Competition
According to DeFillama, Solana leads in fees generated over 24 hours, followed by Tron and then Ethereum. Analysts expect that the reduction in Ethereum gas fees might renew interest in its DeFi ecosystem in the coming months.
The reduction in fees on Ethereum could positively impact its appeal to users, possibly intensifying its competitive edge against other blockchains like Tron.
